Mr Cooper Group Inc (COOP)

[boarddork]

well, Oregon was not claiming tax for the REIT profit,....Oregon was just going after the transactional excise taxes plus penalties and interest....again,...Not the WMI REIT's profit. If so it'd be a far far far larger number.

In any case, the WMI REITs were never taxed solely as a business, nor could it be. Oregon lost, Walrath signed off in 2012. Generally speaking, REITs dont pay tax as a business, because the tax liability is passed down to each beneficial owner upon receipt of their share of the REIT's income. That's the whole point of a REIT. Each and everyone of us who released had to fill out a W-9, as we are all individual beneficiaries of the WMI REITs.


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I do like footnote 2, on page 2 of this KCCLLC filing. How they hid the sausage from court and creditors. https://www.deb.uscourts.gov/sites/default/files/opinions/judge-mary-f.walrath/wamu-v.oregon-otc-f12-19-12.pdf Dec. 19, 2012


"The REITS themselves, however, were not members of the [WMI] Consolidated Tax Group and were not included in the consolidated federal returns. During the same period, WMI filed consolidated returns on behalf of the Consolidated Tax Group in Oregon as well. The REITS were not included in the consolidated Oregon returns. Thus, the income of the REITS from the REIT loans was not reflected in the consolidated federal or Oregon tax returns."


Background: same doc, page 1 "In late 1999, each of the REITS became directly-owned subsidiaries of a holding company of WMI and changed their
commercial domiciles from the State of Washington to Oregon."